Archive · 24 Dec 2025
India to update key economic data series
The Indian government is updating important economic numbers to make them more accurate.
They're changing the base years for measuring prices (CPI), the country's total economic output (GDP), and factory production (IIP).
The new data will include prices from online stores and other digital sources to better reflect how people actually spend money.
There will be meetings with experts to discuss these changes before the new numbers are released.
The updated price data will come out in February 2026, the GDP data in the same month, and the factory production data in May 2026.
These changes will help everyone understand the economy better.
Some people think the current methods are good, while others believe more improvements are needed.
The government is also working to make sure the factory production data is more up-to-date by adding new factories to the list every year.
New CPI series with 2024 base year to be released on February 12, 2026, incorporating e-commerce and online data sources.
National Accounts data with 2022-23 base year to be released on February 27, 2026, with improved data sources and methodologies.
New IIP series with 2022-23 base year to be released on May 28, 2026, with updated components and sectoral weights, and potential annual updates to the panel of factories.
Pre-release consultative workshop held to share proposed methodological changes and gather feedback from stakeholders.
Government expanding data collection to include digital sources and administrative data for more accurate economic measurements, with the IMF expected to improve its assessment of India's official statistics once the review is complete.
- Who
- Ministry of Statistics and Programme Implementation (MoSPI), Chief Economic Advisor V Anantha Nageswaran, Mridul Saggar (Chairman of the Technical Advisory Committee on IIP), Narendra Kumar Santoshi (MoSPI’s Director General of Central Statistics), Saurabh Garg (MoSPI Secretary), BN Goldar (Chairman of the Advisory Committee on National Accounts Statistics), Suman Bery (Niti Aayog Vice Chancellor), Ankita Singh (Deputy Director General in MoSPI), Ila Patnaik (Member of the IIP review committee and Aditya Birla Group’s Chief Economist)
- What
- Release of updated macroeconomic data series (CPI, GDP, IIP) with new base years and methodologies, including the incorporation of e-commerce and online data sources, and a pre-release consultative workshop to discuss these changes.
- When
- February 2026 (CPI and GDP), May 2026 (IIP), Tuesday (pre-release workshop, unspecified date), November 26 (first workshop in Mumbai)
- Where
- India (nationwide, with specific data collection from 12 major cities), New Delhi (pre-release consultative workshop)
- Why
- To improve the accuracy, reliability, and representativeness of economic data, address criticisms, and align with international standards.
Government and Proponents
Critics and Skeptics
GDP Methodology
Government and Proponents
The government asserts that India's GDP estimation methods are robust and that concerns are often raised without rigorous scrutiny, particularly when GDP numbers are higher than expected.
Critics and Skeptics
Some economists and critics question certain methodological aspects of India's GDP estimation, especially after recent high growth prints, and call for more transparent and rigorous critiques.
IIP Revisions
Government and Proponents
The government believes that the proposed changes to the IIP, such as annually updating the panel of factories, will address criticisms and align IIP with other industrial growth measures.
Critics and Skeptics
Critics argue that no single revision can solve all problems and that new issues will arise due to the rapid changes in the economy, making it challenging to achieve perfect alignment.
- New CPI base year
- 2024=100
- New CPI release date
- February 12, 2026
- New National Accounts base year
- 2022-23
- New National Accounts release date
- February 27, 2026
- New IIP base year
- 2022-23
- New IIP release date
- May 28, 2026
- Pre-release workshop date
- Tuesday (unspecified date)
- First workshop date
- November 26 (Mumbai)
- IMF's current grade for India's GDP data
- C
- IMF's overall grade for India's official statistics
- B
Sources
Govt to release new series of macroeconomic data from Feb
GDP base revision to take care of IMF concerns and ‘C’ grade
Govt to tap e-tailers, online sources for price data in new CPI series
‘Govt must try to raise Rs 1.5-2 lakh crore via disinvestment in 2 years,’ Q&A with CII President
Need to change the mindset that India’s data methodology is inferior: CEA Nageswaran
India’s data methods inferior, this mindset needs to change: CEA
‘Sure of remarkable change in IMF’s assessment of Indian statistics’
